LD 858
pg. 6
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LR 787
Item 1

 
with the same notice and hearing requirements of section 5250.
Before adopting an affordable housing development program, the
municipal legislative body shall consider the factors and evidence
specified in section 5247.

 
2.__Requirements.__The affordable housing development program
must include:

 
A.__A financial plan in accordance with subsection 3;

 
B.__A description of facilities, improvements or programs to
be financed in whole or in part by the affordable housing
development program;

 
C.__Plans for the relocation of persons displaced by the
development activities;

 
D.__The environmental controls to be applied;

 
E.__The proposed operation of the affordable housing
development district after the planned improvements are
completed;

 
F.__An assurance that the program complies with section
4349-A;

 
G.__The duration of the program, which may not exceed 30
years from the date of designation of the district; and

 
H.__All documentation submitted to or prepared by the
municipality under section 5247, subsection 2.

 
3.__Financial plan for affordable housing development
district.__The financial plan for an affordable housing
development district must include:

 
A.__Cost estimates for the affordable housing development
program;

 
B.__The amount of public indebtedness to be incurred;

 
C.__Sources of anticipated revenues;

 
D.__A description of the terms and conditions of any
agreements, contracts or other obligations related to the
affordable housing development program; and

 
E.__For each year of the affordable housing development
program:


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